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18222 W Lundberg Street Surprise, AZ 85388

3 Beds 3 Baths 1,948 sqft Built 2007

$295,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $151.44
  • 2 Days on Market
  • MLS # : 6181818
  • Updated Date : 01/16/2021 at 20:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,948 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Beautiful 2 story home available in highly sought after Surprise Farms. Room to spread out with nearly 2000 sq ft of living space, 3 bedrooms, 2.5 bathrooms, a large loft, and a spacious open concept floor plan, perfect for entertaining. Gorgeous diagonal tile and wood look flooring in all high traffic areas. Crisp white paint and large windows for soft natural light throughout. Island kitchen with lots of cabinet and counter space. 2 car garage. Upstairs master retreat includes a walk in closet and a full ensuite with separate tub and shower. Huge backyard is complete with a covered patio, block fencing and a sprawling grassy area. Its a perfect spot for pets, play, entertaining and more. All conveniently located near schools, parks, shopping and restaurants. See it and make it yours.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Surprise Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Surprise Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9631981

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Western Peaks Elementary School Primary Regular 1,093 50 5
Western Peaks Elementary School Middle Regular 1,093 50 5
Willow Canyon High School High Regular 2,084 83 3

Western Peaks Elementary School

  • Education Level: Primary
  • # of students: 1,093
  • # of teachers: 50
5
GreatSchools Rating

Western Peaks Elementary School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 50
5
GreatSchools Rating

Willow Canyon High School

  • Education Level: High
  • # of students: 2,084
  • # of teachers: 83
3
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,025
Property Tax -$205
Property Insurance -$65
HOA -$124
Property Management Fees -$99
CASH FLOW
-$68

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$295,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,901

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,544

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4753$1,5004$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 18222 W Lundberg Street Surprise, AZ 1
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 17753 W Post Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2005
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
  • 18539 W Sunbelt Drive Surprise, AZ 3
    • 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 2006
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 18394 W Dawn Drive Surprise, AZ 4
    • 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 16112 N 181st Avenue Surprise, AZ 5
    • 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2007
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
PROPERTY LISTING DETAILS
Kimberly J. Alexander
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181818
Last Updated: 01/16/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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